NETFLIX CLASS ACTION SETTLEMENT
July 30, 2012 Leave a comment
More problems seem to be arising for the beleaguered video streaming company, Netflix.
Current and Former Netflix users take notice: there is a class action settlement that can affect you. The settlement, which stems from claims that Netflix kept and disclosed vital information against the law, will provide $9M into a settlement fund. Provisions of the settlement include that Netflix will make donations to non-profit organizations, programs, or institutions.
With the company still reeling from a service fiasco that saw its share price drop from a high of nearly $300 per share, to a current price of about $57 per share, this setback is certainly troublesome for Netflix and its shareholders.